Real Estate Development in the GCC – the sequencing risk!

The development of mixed use real estate projects is a substantial financial commitment. Success ultimately depends on future income streams and end users. Yet, as Sven P Gade, CEO of PKF The Consulting House says: “during the 15 years I have advised clients in the MENA region, end user acceptance and viability are regularly considered too late – when substantial concept design costs have been incurred, often in vain. We have always known from a gutfeel and anecdotal perspective given the nature and timing of assignments asked for by developers – but could not prove it scientifically”.